We Are Increasing Market Liquidity
As referenced in our last update, the $NFTY token stats are:
Total Max Supply: 1,456,240,353
Total Supply: 509,684,123
Circulating Supply: 400,000,000~
With the new token updates, we will deploy a smart contract upgrade that distributes more liquidity as part of the non-circulating supply to the following four designated Gnosis multi-sig wallets:
- NFTY Growth: 0x69a54042088c0b6ef1676972a9525973c0a42bbd
- NFTY Team : 0xec6b031eec228a9a5d6c047b3904f636d4d499c3
- NFTY Ecosystem: 0x1cd10d006d3f7279915e79b162d305a594656260
- NFTY Foundation: 0xa8680e0f52ed95d4b98fe03e171998c47bb88d2e
Each wallet address receives 25% of the distributed liquidity. The maximum number of tokens that can be released is 88 NFTY tokens per ETH block (6400 blocks a day), making the maximum daily emissions around 563,200 (88*6400).
The newly released liquidity will be used further to advance the different parts of our wonderful ecosystem. This will also ensure that the $NFTY token remains liquid in order to accommodate growing adoption. We’ve got tons of exciting news in store!
Chapter 2: Scarcity
As previously said in our token transparency report, the NFTY Token develops in distinct chapters, and we are ready to begin the next key chapter of NFTY growth. Our stake $NFTY, earn $NFTY initiative has been a resounding success. We presently have about 200 million $NFTY coins, valued at approximately $15 million, on the Binance chain. Over the last eight months, we have distributed more than 50 million tokens in staking rewards. The $NFTY token’s distribution to our community, which further broadens the ecosystem, has been a top focus for the previous chapter.
With that said, we have reduced our staking incentives by 30% in an effort to increase the value of the $NFTY token. Staking benefits will be reduced in order to usher in Chapter 2 of the NFTY Token, which is all about scarcity. By lessening the number of tokens being released through staking, we critically avoid dilution of the token as we turn on minting. As the $NFTY token develops and evolves into the ideal utility token for the whole NFTY product suite, we look forward to developing more and more strategies to benefit longer-term investors.
We appreciate all of your support thus far and are eager to give our $NFTY token holders a special experience.
About NFTY Labs
NFTY Labs is a Web3 Incubation Studio focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.